Modified approach for recording infrastructure

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Option 1. GASB Statement 34 and Reporting of Expenditures and General Capital Assets

Provide complete answers to the following:

1. What conditions must be satisfied in order to use the modified approach for recording infrastructure?

2. With regard to the government-wide statements, indicate the three categories of Net Position that should be reported, and describe what would be put into each category.

3. With regard to the government-wide statements, distinguish between program revenues and general revenues. List three examples of each.

4. What is the difference in reporting between program revenues and general revenues?

 

Reference no: EM132566550

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